Technical analysis of USD/CHF for April 10, 2017

USDCHFM30.png

USD/CHF is expected to trade in a higher range. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is bullish above its neutrality level at 50 and calls for a further advance.

The U.S. Labor Department reported that only 98,000 nonfarm payrolls were added in March, the smallest growth since last May and much lower than +175,000 expected. However, the jobless rate dropped to 4.5%, its lowest level since May 2007, from 4.7% in February. Average hourly wages increased 0.2% on month as expected.

The U.S. missile strike on Syria following the chemical-weapons attacks in that country earlier last week impacted the financial markets most in Asian trading hours, helping to send gold and oil prices higher. Meanwhile, the summit between U.S. President Donald Trump and Chinese President Xi Jinping yielded no marked progress on issues of trade and North Korea.

The U.S. dollar experienced a selloff initially on an apparently-softer-than-expected U.S. jobs report. But it bounced back once investors noted that, apart from continued layoffs in the beat-up retail sector, snowstorms contributed to the weakness in job gains. They also saw a drop in the jobless rate to a near 10-year low of 4.5% as a sign of strength in the labor market.

Hence, as long as 1.0075 holds on the downside, a new rise to 1.0110 and even to 1.0130 seems more likely to occur.

Resistance levels: 1.0110, 1.0130, and 1.0165

Support levels: 1.0060, 1.0045, and 1.000

The material has been provided by InstaForex Company - www.instaforex.com

Trading Plan for EURUSD and Gold for April 10, 2017

analytics58eb9b36ce3cb.jpg

Technical outlook:

The EURUSD pair still looks for termination of wave (1), before it could produce a counter trend rally towards 1.0700 levels at least. The intermediary trend line support has also been broken and prices trade in the sell zone right now. A simple trading strategy could be to sell on rallies. Please note that the Fibonacci 0.382 resistance is also around 1.0700 levels, along with the back side of trend line, which should act as formidable resistance. Please note that immediate support is seen at 1.0500 levels while resistance is at 1.0906 levels. The short-term resistance is at 1.0690 levels though. We are still waiting for a counter trend rally, and it is good to remain flat with patience to be able to sell through 1.0700 and 1.0770 levels. On the other side, a break below 1.0570 levels would take off 1.0500 levels easily.

Trading plan:

Please remain flat for now and look to short at 1.0700 levels. Also add at 1.0770 levels with stop at 1.0950, targeting 1.0300 levels at least.

Gold chart setups:

analytics58eb9d192f1fb.jpg

Technical outlook:

Gold has now produced a classic reversal pattern on Friday after printing highs at $1,270 levels. The trade plan has worked out well and still those who are looking to sell should do around $1,260 levels again. Please note that the metal has now produced a 5 wave drop (impulse) from $1,270 levels as seen here. The metal has produced wave (1) or an alternate count wave (A) (not labelled here). A corrective 3 waves rally is expected from current levels towards $1,260/61 levels, which is the Fibonacci 0.618 resistance as depicted here. A bearish reversal from there should push prices lower towards at least $1,220 levels and if breaks lower, it could drop until $1,180 levels. Immediate resistance is now seen at $1,270 levels, while support is at $1,240/44 levels.

Trading plan:

Please remain short with stop above $1,270 levels targeting $1,220 at least.

Fundamental outlook:

With no major news coming out for the day, please watch out for Fed Chair Yellen's speech at 04:00 PM EST today. It could trigger the much-awaited volatility and counter trends.

Good luck!

The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of NZD/USD for April 10, 2017

NZDUSDM30.png

NZD/USD is expected to trade in a lower range as the resistance is at 0.6980. Although the pair posted a rebound from 0.6925 (the previous low), the pair is still trading below its key resistance at 0.6980, which should limit the upside potential. The descending 50-period moving average is playing a resistance role. Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

To conclude, as long as 0.6980 is not surpassed, look for a further drop to 0.6915 and even to 0.6890 in extension.

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6915. A break below this target will move the pair further downwards to 0.6890. The pivot point stands at 0.6980. If the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.7005 and the second one at 0.7035.

Resistance levels: 0.6990, 0.7005, and 0.7020

Support levels: 0.6935, 0.6915, and 0.6870

The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of GBP/JPY for April 10, 2017

GBPJPYM30.png

GBP/JPY is expected to trade with a bullish bias above 137.50. The pair stands firmly above its key support at 137.50, which should allow for a temporary stabilisation. The relative strength index jumped above its descending trend line, confirming a positive outlook. Even though a continuation of the consolidation cannot be ruled out at the current stage, its extent should be limited.

As long as 137.50 is not broken, likely advance to 138.35 and 138.70 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 138.35 and the second one at 138.70. In the alternative scenario, short positions are recommended with the first target at 137.25, if the price moves below its pivot points. A break of this target may push the pair further downwards, and one may expect the second target at 136.85. The pivot point is at 137.50.

Resistance levels: 138.35, 138.70, and 139.45

Support levels: 137.25,136.85, and 136.15

The material has been provided by InstaForex Company - www.instaforex.com

USD/CAD intraday technical levels and trading recommendations for April 10, 2017

analytics58eb765708411.png

Since April 2016, the USD/CAD pair has been trending upward within the depicted ascending channel.

In December 2016, a bullish breakout above 1.3300 (50% Fibonacci level) was expected to allow a further advance toward 1.3700-1.3750 (the upper limit of the depicted channel).

However, significant bearish rejection was expressed around 1.3580 (recently established top).

During the bearish pullback, the price level of 1.3300 (50% Fibonacci Level) failed to provide enough support to the pair.

This allowed further bearish movement toward the price level of 1.2970 (61.8% Fibonacci level) where a valid BUY entry was offered in February 2017.

Two weeks ago, the bullish breakout above 1.3300 (50% Fibonacci Level) enhanced further advance toward 1.3440 and 1.3530.

The next bullish target would be located around 1.3800 (upper limit of the depicted channel) if the pair maintains upside trading above 1.3300 (50% Fibonacci Level) which stands as a prominent support level.

On the other hand, if the USD/CAD pair moves below 1.3300, it may become trapped again within the depicted consolidation range (1.3300-1.2970).

The material has been provided by InstaForex Company - www.instaforex.com

USD/JPY Fundamental Analysis April 10, 2017

USD/JPY had found support at 110.10 after breaking below the support of 112.50. As of Friday, Non-Farm Employment Change showing the negative figure of 98k which was expected to be at 174k but positive Unemployment Rate at 4.5% which was expected to be at 4.7% helped USD to gain strength over the JPY and gave the price a boost towards the upper resistance. Today JPY had Current Account report published in the morning with positive value of 2.21T which was expected to be at 1.79T but Economy Watchers Sentiment was negative at 47.4 which was expected to be at 49.8. On the other hand, USD has Labor Market Conditions report to be published today along with FED Chair Yellen speaking about short-term interest rate change and future monetary policies. A good amount of volatility is expected during the speech in this pair today.

Now let us look at the technical view, price is currently being respected by the dynamic resistance of 20 EMA though the price has bounced off from the support area of 110.10-75. Currently, as of 20 EMA holding the price from upside we are in bearish bias until the price breaks above 112.50 with a daily close. If price breaks below the lowest support 110.10 level, it is expected that the price will move much lower towards 105.50 and a daily close above 112.50 will negate our bearish bias and we will be looking forward for an upward target towards 114.60.

analytics58eb7673d6d5f.jpg

The material has been provided by InstaForex Company - www.instaforex.com

NZD/USD Intraday technical levels and trading recommendations for April 10, 2017

analytics58eb75cd65f90.pnganalytics58eb75dd966d7.png

The NZD/USD pair was trapped within the depicted price range (0.6860-0.6990) until a bullish breakout occurred.

A bullish breakout above 0.6960-0.7000 allowed the pair to head toward the price level of 0.7100 (the key level) which failed to provide sufficient bearish pressure on the pair.

Bullish persistence above 0.7100 allowed further advance toward 0.7250-0.7350 (Sell-Zone) where the bearish price action was expected.

Bearish persistence below 0.7250 allowed further decline toward 0.7100 then 0.6960 which failed to provide enough support for the pair.

That is why further bearish fall was expected toward 0.6860 (the lower limit of the depicted BUY zone) where a bullish position was suggested in previous articles.

Recently, the bullish breakout above the depicted key level (0.6960) was achieved.

That is why, the current bearish pullback toward 0.6960 should be watched for bullish rejection and a possible BUY entry.

On the other hand, the price level of 0.7100 remains a significant key level to be watched for bearish price action when bullish pullback extends above 0.7040.

The material has been provided by InstaForex Company - www.instaforex.com

EUR/USD Fundamental Analysis April 10, 2017

EUR/USD is going through impulsive bearish pressure since the bounce off the 1.0850. USD was weighed down by a weak non-farm employment change at 98k which was expected to be at 174k, which pushed the US currency down, but a lower unemployment rate of 4.5% which was expected to be unchanged at 4.7% helped the greenback to maintain the strong momentum against EUR. Today on the EUR's side, we had positive Italian Industrial Production at 1.0% which was expected to be at 0.4% and Sentix Investor Confidence Report at 23.9 which was expected to be at 20.1. The positive reports on the EUR's front made the market today ease the USD momentum a bit. However, upcoming USD Labor Market Condition index report and FED Chair Yellen's speech may bring in some volatility in this pair.

Now let us look at the pair from the technical viewpoint. The pair has found intraday support at 1.0570 and is currently showing some bearish rejection along the way. Amid the positive EUR reports today, USD could not push the price much downward below the support area. The price is expected to show some bullish moves towards dynamic resistance of 20 EMA. If we see a break above 20 EMA, we can expect a further bullish move towards 1.0630-40 resistance area. A daily close below 1.0570 will lead to further downward move negating the current bullish situation.

analytics58eb701947063.jpg

The material has been provided by InstaForex Company - www.instaforex.com

EUR/USD analysis for April 10, 2017

analytics58eb6a9bc7a0c.png

Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level of 1.0570. According to the 4H time frame, I found broken horizontal flat base (re-distribution), which is a sign that sellers are in control. My advice is to watch for potetnial selling opportunties. The downward targets are set at the price of 1.0530 and 1.0500. The short term trend is bearish.

Resistance levels:

R1: 1.0575

R2: 1.0570

R3: 1.0560

Support levels:

S1: 1.0590

S2: 1.0595

S3: 1.0600

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company - www.instaforex.com

USD/JPY analysis for April 10, 2017

analytics58eb66d84dd00.png

Recently, the USD/JPY pair has been trading sideways at the priceo f 111.25. According to the 4H time frame, I found a broken downward channel and successful re-test of the critical support at the price of 110., which is a sign that selling looks risky. There is also a potential double bottom formation. The key pivotal point of this formation is set at the price of 112.20. My advice is to watch for potential buying opportunities if the price breaks the level of 112.20. The first upward target will be set at the price of 114.30.

Resistance levels:

R1: 111.32

R2: 111.45

R3: 111.55

Support levels:

S1: 111.05

S2: 111.00

S3: 110.85

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of GBP/USD for April 10, 2017

GBPUSDH4.png

Overview:

  • The GBP/USD pair faced strong support at the levels of 1.2336 and 1.2407. However, the minor resistance is seen at the level of 1.2336, and the pair is likely to try to approach it in order to test it again. However, if the pair fails to pass through the level of 1.2336, the market will indicate a bullish opportunity above the new strong support level of 1.2336 (the level of 1.2336 coincides with the ratio of 38.2% Fibonacci). Moreover, the RSI starts signaling an upward trend, but the trend is still showing strength below the moving average (100). The market is indicating a bullish opportunity above 1.2336 so it will be good to buy at 1.2336 with the first target of 1.2478. It will also call for an uptrend in order to continue towards 1.2578 to retest the double top again. The weekly strong resistance is seen at the level of 1.2578. On the other hand, the stop loss should always be taken into account. Therefore, it will be reasonable to set your stop loss at the level of 1.2249.
The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/USD for April 10, 2017

EURUSDH4.png

Overview:

  • The market opened below the weekly pivot point (1.0650). It continued moving downwards from the level of 1.0650 to the bottom around 1.0579. Today, the first resistance level is seen at 1.0650 followed by 1.0699, while daily support 1 is seen at 1.0542. The EUR/USD pair broke support, which turned into a minor resistance at 1.0590 this morning. The pair is trading below this level. It is likely to trade in a lower range as long as it remains below the resistance that is expected to act as a minor resistance today. This would suggest a bearish market because the RSI indicator is still in a negative area and is not showing any signs of a trend reversal at the moment. Amid the previous events, the EUR/USD pair is still moving between the levels of 1.0590 and 1.0493, so we expect a range of 97 pips in coming hours. Therefore, the minor resistance can be found at 1.0590 providing a clear signal to sell with a target seen at 1.0542. If the trend breaks the minor support at 1.0542, the pair will move downwards continuing the bearish trend development to the level of 1.0493 in order to test the double bottom on the H4 chart. Overall, we still prefer the bearish scenario, which suggests that the pair will stay below the zone of 1.0650 today.
The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of major pairs for April 10, 2017

EUR/USD: The EUR/USD pair consolidated from Monday till Friday and then trended southwards on Friday. The outlook in the market (as well as other EUR pairs) is bearish. Further bearish movement is expected as the price goes towards the support lines at 1.0550 and 1.0500.

1491816006_1.png

USD/CHF: This pair went sideways in the first few days of last week and then trudged upwards gradually in the last few days of the week. The price has moved close to the resistance level at 1.0100. Once that resistance level at 1.0100 is breached to the upside, the price would go towards other resistance levels at 1.0150 and 1.0200. The demand levels at 1.0050 and 1.0000 would try to hinder any pullbacks along the way. As long as EUR/USD is strong, USD/CHF would be weak.

2.png

GBP/USD: This currency trading instrument moved sideways last week. The price has moved between the distribution territory at 1.2550 and the accumulation territory at 1.2350. A movement above the distribution territory at 1.2550 is more likely than a movement below the accumulation territory at 1.2350. The outlook on this currency instrument, as well as other GBP pairs, is bullish for this month. So when there is a breakout in the market, it would most probably be in favor of bulls.

3.png

USD/JPY: Last week, this currency trading instrument consolidated between the supply level at 111.50 and the demand level at 111.00. A break above the supply level or below the demand level is anticipated this week. However, the most probable direction is towards the demand level at 110.00, and after it is breached to the downside, the price would move further downwards. It should be borne in mind that the outlook on JPY pairs is bearish for this week and this month.

4.png

EUR/JPY: The EUR/JPY pair dropped 110 last week, testing the demand zone at 117.50 many times without being able to breach it to the downside. The price has dropped about 500 pips since March 13, 2017 and further downward movement is anticipated this week. One factor aiding the bearishness in the market is the weakness in EUR itself. The targets for this week are thus located at the demand zones at 117.00, 116.50, and 116.00.

5.png

The material has been provided by InstaForex Company - www.instaforex.com

Global macro overview for 10/04/2017

Global macro overview for 10/04/2017:

Saudi Aramco (Saudi Arabian Oil Company) reported that it is lowering crude oil prices for its customers in Mediterranean area and Northwest Europe. As such, Arab Extra Light for May delivery will be $0.70 per barrel cheaper for buyers in Northwest Europe. Arab Light will be $0.45 per barrel cheaper, while heavy blends will cost $0.45-0.50 per barrel less. Buyers in the Mediterranean will enjoy even better discounts with Extra Light $1.05 per barrel less and other blends shaking off $0.50-0.70 per barrel. Saudi Arabia is the OPEC's largest oil producer and they are again starting the strategy of low prices. The reason behind this strategy might be explained by selling problems in the Asian zone as the prices for the USA are still without any discount. On the other hand, the oil demand in European countries is rising, so a discount for this zone might be another reason to secure this vital market. The next OPEC meeting has been scheduled for 25th of May in Vienna and the members of OPEC will ponder whether to extend the production cut deal into the second half of the year.

Let's now take a look at the Crude Oil technical picture at the H4 timeframe. The market has retraced almost 78% of the previous swing down before the internal pullback has happened. Currently, the technical resistance zone between the levels of 52.50 - 52.95 is the key zone for bulls as any breakout higher will open the road to the swing high at the level of 55.22. Nevertheless, please notice the market conditions are overbought and the growing bearish divergence suggests a deeper corrective cycle come soon. The next support is seen at the level of 51.50.

analytics58eb3e47ab596.jpg

The material has been provided by InstaForex Company - www.instaforex.com

Global macro overview for 10/04/2017

Global macro overview for 10/04/2017:

The wages data saved the US Dollar after a slow change in NFP employment. According to the latest US nonfarm payrolls, only 98k jobs were added to the US non-farm sector in March. The consensus was at 180k, but the expectations were slightly higher than the ADP average (+260k in the private sector). In February, 219k new jobs were created and the average value in 12 months was less than 200k. The Fed's target was 0.2% growth in wages on the monthly basis and it was revised from 0.2 to 0.3% for February, so this data met the market consensus. The annual growth rate of the index receded from a cyclical maximum to 2.7%. The unemployment rate was logged at 4.5%, so it confirms full employment. The weakness of NFP data will be justified by snowstorm Stella and the effect of a warm February. In conclusion, the US Dollar sell-off was saved by better-than-expected wages and lower-than-expected unemployment rate.

Let's now take a look at the US Dollar index technical picture in the H4 time frame. The bulls almost managed to fill the gap between the levels of 101.43 - 100.88, but the growing bearish divergence and the overbought market conditions indicate a corrective cycle to come. The next support is seen at the level of 101.01 and the next resistance is seen at the level of 101.43. Please notice, that the price is trading just below the important golden trend line resistance around the level of 101.50. Any violation of this trend line would indicate an uptrend resumption and a possible test of the swing high at the level of 103.83.

analytics58eb387e568b7.jpg

The material has been provided by InstaForex Company - www.instaforex.com

GBP/USD analysis for April 07, 2017

Forex analysis review
GBP/USD analysis for April 07, 2017

Ichimoku indicator analysis of USDX for April 10, 2017

Despite the bearish divergence signs and the resistance at the 61.8% Fibonacci retracement, the Dollar index managed to fight the worse-than-expected NFP figures announced on Friday and pushed higher towards 101.50 where the next resistance is found.

analytics58eb330ba7b16.png

Price is trading above the Ichimoku cloud and both the tenkan- and kijun-sen indicators. Trend is bullish. Oscillators are overbought. Resistance is now at 101.50 where the 78.6% Fibonacci retracement is found. Support is at 100.90.

analytics58eb334a33db1.png

Blue line - resistance

Black line -support

Green line - long-term support trend line

On the weekly chart, price is testing important weekly trend line resistance at 101.20-101.50 area. I expect this trend line is not to be broken and price to get rejected this or next week from the 101.50 level. I will focus on the bearish side of the trade as long as price is below the blue trend line and especially below 102.30.

The material has been provided by InstaForex Company - www.instaforex.com

Trading plan for 10/04/2017

Trading plan for 10/04/2017:

The US Dollar has been extending gains since Friday when FED hawkish remarks were more bullish than NFP. Political risk also entails the bonus of defensive currencies, including the Dollar. The stock market is ambiguously circling the levels from the previous week's close. Oil is strong, but metals are losing ground slowly.

On Monday 10th of April, the economic calendar does not really offer any important news, but market participants will keep an eye on Industrial Production data from Italy and Sentix Investor Confidence data from the Eurozone.

EUR/USD analysis for 10/04/2017:

The Sentix Investors Confidence data are scheduled for release at 08:30 am GMT and market participants expect a slightly lower reading than a month ago. The index is expected to drop from 20.7 points to 20.1 points but still remains well above the zero level. Only a substantially unexpected figure would have an immediate impact on the market, otherwise, this data release will not cause any important changes on the chart.

Let's now take a look at the EUR/USD technical picture in the H4 time frame. The market dropped to the 78%Fibo at the level of 1.0582, but the oversold market conditions and growing bullish divergence might suggest the corrective cycle is coming soon. The first technical resistance is seen at the level of 1.0599 and the next one is seen at the level of 1.0634.

analytics58eb33338949f.jpg

Market snapshot: GBP/USD range breakout to the downside

The downside breakout from the triangle has been stopped at the technical support at the level of 1.277 and now the market is trying to bounce higher. The next technical resistance is seen at the level of 1.2418. Amid a lack of any important fundamental news from the UK, there is a high possibility that this level will be tested during the day. Nevertheless, if the bullish camp wants to regain the control over this market, then the breakout above the level of 1.2504 is needed first.

analytics58eb333d47a27.jpg

Market snapshot: USD/JPY the bottom in place, time for a rally

The lack of any important news from Japan might make this pair to keep trading sideways. The most important resistance is at the level of 111.56 and it has just been tested. On the other hand, the bottom looks well established at the level of 110.10 (a quadruple test), so now the bulls should regain the control over the market and violated the technical resistance soon. The growing bullish divergence supports the view.

analytics58eb3347cd6b4.jpg

The material has been provided by InstaForex Company - www.instaforex.com

Ichimoku indicator analysis of gold for April 10, 2017

Gold price made a bearish reversal on Friday despite the worse-than-expected NFP figures announced. Gold may have made a short-term top but we will be sure about it if we break below $1,250 and exit the bullish channel. Overall, my longer-term view remains unchanged.

analytics58eb31ab31fef.jpg

Blue lines - bullish channel

Gold price is trading above the Ichimoku cloud and still inside the bullish channel. Support is at $1,250. Resistance is at $1,262. Price has broken below the tenkan- and kijun-sen, so we have a short-term bearish indicator.

analytics58eb320c554f3.jpg

Red line - resistance Trend line

Blue line - support Trend line

Black line- long-term resistance trend line

The weekly candle from last week is not a good one. The inability to hold above $1,263 despite the new high is a failure sign. This is only bad for the short term in order to relieve the overbought conditions. So we could see a pullback towards $1,230 before we resume the uptrend. I remain longer-term bullish expecting a move above $1,300 before July.

The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of EUR/NZD for April 10 - 2017

analytics58eb101907d58.png

Wave summary:

EUR/NZD is not really doing anything at the moment. We continue to look for a break above 1.5347 as the go-signal for renewed upside pressure towards 1.5570 and possibly even closer to 1.5792 target. That said, support at 1.5151 will need to be able to protect the downside or a deeper correction closer to 1.5108 and possibly even closer to 1.4874 could be seen.

R3: 1.5457

R2: 1.5347

R2: 1.5312

Pivot: 1.5260

S1: 1.5183

S2: 1.5151

S3: 1.5108

Trading recommendation:

We are long EUR from 1.5235 we will move our stop higher to 1.5095. If you are not long EUR yet, then buy a break above 1.5347 and start by using the same stop.

The material has been provided by InstaForex Company - www.instaforex.com

Elliott wave analysis of EUR/JPY for April 10, 2017

analytics58eb0e5617814.png

Wave summary:

As long as resistance at 118.80 is able to cap the upside as long will the possibility for one final decline into the 116.83 - 116.99 remain. That said, we are clearly in the final stages of the corrective decline from 124.09 and once a test of the 116.83 - 116.99 area has been seen or a direct break above 118.80 is seen, that will be the signal for renewed strength towards 124.09 and above.

R3: 118.80

R2: 118.43

R1: 118.17

Pivot: 118.00

S1: 117.75

S2: 117.46

S3: 117.30

Trading recommendation:

We are buying EUR at 117.05 or upon a break above 118.80.

The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of EUR/USD for Apr 10, 2017

EURUSD.jpg

When the European market opens, some Economic Data will be released, such as Sentix Investor Confidence, and Italian Industrial Production m/m. The US will release the Economic Data, too, such as Labor Market Conditions Index m/m, so, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.0633.

Strong Resistance:1.0626.

Original Resistance: 1.0616.

Inner Sell Area: 1.0606.

Target Inner Area: 1.0581.

Inner Buy Area: 1.0556.

Original Support: 1.0546.

Strong Support: 1.0536.

Breakout SELL Level: 1.0529.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/JPY for Apr 10, 2017

USDJPY.jpg

In Asia, Japan will release the Economy Watchers Sentiment, and Current Account data, and the US will release some Economic Data, such as Labor Market Conditions Index m/m. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 112.05.

Resistance. 2: 111.83.

Resistance. 1: 111.61.

Support. 1: 111.34.

Support. 2: 111.13.

Support. 3: 110.91.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of USDX for April 10, 2017

The index had a strong bullish rally during Friday despite bad NFP data released in the United States. Currently, it's challenging the resistance zone of 101.25, which is the last hurdle before to reach the 101.62 level across the board. The overall view is still bullish, as it remains well consolidated above the 200 SMA in the Easter's week.

USDXH1.png

H1 chart's resistance levels: 101.25 / 101.62

H1 chart's support levels: 100.75 / 100.43

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 101.25, take profit is at 101.62 and stop loss is at 100.87.

The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of GBP/USD for April 10, 2017

The pair plummeted during Friday and now it's heading towards 1.2333, as the Cable is trying to break the range where the price action has been moving on. If GBP/USD manages to break the next target at the 1.2333 level, then it can test the 1.2292 zone. MACD indicator is turning flat, calling for more sideways in coming days.

GBPUSDH1.png

H1 chart's resistance levels: 1.2407 / 1.2488

H1 chart's support levels: 1.2333 / 1.2292

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2407, take profit is at 1.2488 and stop loss is at 1.2327.

The material has been provided by InstaForex Company - www.instaforex.com